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National Internal Revenue Code of 1997 5th Edition
The coronavirus disease 2019 (Covid-19) pandemic has had a disruptive effect on our lives and the economy. It is all over the headlines: missed sales targets, lost earnings, foreclosures and job losses. At times like these, organizations often consider downsizing or reducing the number of employees. However, downsizing as a management directive must be implemented as a last resort. Rather than take such drastic and irreversible measures, companies may want to reconsider other options and opportunities such as strategic organizational rightsizing.
The government’s plan to improve our corporate tax system and to develop a more efficient and competitive tax incentives regime has been ongoing for quite some time. In February, the proposed measure, known as the Corporate Income Tax and Incentives Reform Act (CITIRA) Bill, reached the Senate. Many hopes were raised that the CITIRA Bill would soon be enacted into law.
At 7 a.m., my alarm rang. I woke up on a different bed. I am not on my bunk bed anymore. I woke up hearing birds chirping instead of cars honking and chickens scratching the roof instead of city cats meowing. It is the first day of the quarantine, and I am back home in Bohol. I returned home before Cebu City declared a community quarantine.
THE Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) 41-2020 to relax the regulations on expired or expiring principal and supplementary receipts or invoices and authority to print (ATP). ATP applications and the use of expired principal and supplementary receipts or invoices have been extended without penalties, provided that:
I have seen the human resources (HR) profession and its related functions progress in the past two decades from managing administrative personnel to being a stakeholder that mirrors changes in the business. Over the past two months, however, HR’s leadership and influence have been put to the test in response to the disruption caused by the coronavirus disease 2019 (Covid-19).
Are we prepared for when we begin our “new normal”? Who else misses going out, joining social gatherings, playing outdoor sports, and attending Sunday mass? We spent the summer of 2020 in the comfort of our own homes, thanks to the coronavirus or the COVID-19 pandemic.
This coronavirus disease 2019 (Covid-19) pandemic is edging us closer towards an inflection point, where cyberspace becomes the primary channel for businesses to reach, engage and retain customers. At this critical point in time, organizations must decide whether to adapt and evolve or remain unchanged. The current state of affairs is that technology has become the buoy that is keeping businesses afloat.
Download the Philippine Government COVID-19 Relief Package.
